AF Gruppen

Board/Management Information • Aug 5, 2020

Executive Vice President Amund Tøftum will be the new Group Chief Executive Officer of AF Gruppen as of 24 August

Executive Vice President Amund Tøftum will be the new Group Chief Executive Officer of AF Gruppen as of 24 August

- AF Gruppen is based on clear core values, a strong sense of community and with a clear goal of cultivating its own leaders. With Morten Grongstad as Group CEO, AF Gruppen has strengthened its position as a leading construction group. As Morten now wishes to pass the baton, it is very satisfying to see that we can now promote a new internal leader, says chairman of the board, Pål Egil Rønn. Amund Tøftum has been with AF for 15 years, and has experience from both construction, building and offshore, as well as 5 years of experience with group management. A joint board was behind the assessment that Amund Tøftum is the right person to lead the company going forward, says Pål Egil Rønn.

- The timing is right to pass the baton. AF Gruppen has a size and a commercial breadth that provide Amund Tøftum and 5,600 fantastic colleagues good opportunities to continue the profitable growth that characterises AF, Morten Grongstad says.

Upon the wish of the incoming Group CEO, Morten Grongstad will be available to the company.

- I am looking forward to the opportunity of leading a company with so many talented employees. The company has been through a significant growth phase and is now in the process of establishing itself as one of the larger construction companies in the Nordic region. AF will continue to strive at being a forward-looking company, in which safety and profitability are key elements for our value creation, Amund Tøftum says.

For further information:

Pål Egil Rønn, Chairman of the Board, tlf. 909 57 713

Morten Grongstad, CEO, tel. +47 991 53 905

Amund Tøftum, incoming CEO, tel. +47 920 26 712